MWS Capital Consultants LLC

Item 5: Fees and Compensation
                          We charge a percentage of assets under management.

                                         Annual Management Fees

                                         Adviser Fee Breakpoints—
                                         Asset Range    Annual Fee
                                         Up to $2M        0.85%
                                         $2M - $10M       0.80%
                                         Over $10M        0.75%

    Discounts to Fees: MWS Capital often provides negotiated rates lower than the Fee Schedule, which can
    vary by client, and depend on factors such as investment objectives, account size, and the expense
    of supervising a client account. MWS Capital may also waive or discount fees at our discretion.
    Charging of Fees: Fees are billed and deducted monthly in advance, (1/12 the annual fee) with the total
    amount based on the prior month’s account value, including cash. In the case of margin accounts we
    will charge on the net asset value. You may also pay by check,where we will bill you for payment, and
    provide instructions about how to pay by check. We will refund any fees advanced in the event
    of termination, and we do not charge fees that are greater than $1200 and more than six months in
    advance. Fees deducted from your account can be viewed by you in your account statements,
    and you are responsible for verifying the accuracy of the fee calculation. Fees are negotiable and we
    may charge fees for other clients different than yours. New clients are billed upon the first calendar
    month after the inception of the relationship. Clients receive advance notice of any fee revisions.
    Refunds and Termination: We accept no prepayment of fees greater than $1200 and six months or more
    in advance. Fees will be refunded upon notice of termination of the Client Agreement within 5 days of
    the inception of client relationship. Clients may terminate advisory services at any time with written
    notice. Adviser fees will be prorated and finalized within one week of the termination date. Upon receipt
    of a termination notice, we will request written instructions and verbal confirmation from you on any
    further account activity or transfer instructions to be effected by us.
    MWS Capital does not accept any compensation from our custodian or other brokers for their sale
    of securities or other investment products. We do not impose a minimum dollar value of assets
    for starting or maintaining a specific account.
    ERISA Accounts: MWS Capital is deemed to be a fiduciary to advisory clients that are employee benefit
    plans or individual retirement accounts (IRAs) pursuant to the Employee Retirement Income and
    Securities Act ("ERISA"), and regulations under the Internal Revenue Code of 1986 (the "Code"),
    respectively. As such, our firm is subject to specific duties and obligations under ERISA and the Internal
    Revenue Code that include among other things, restrictions concerning certain forms of compensation.

    Custodian fees, commissions or mutual fund expenses: Clients are responsible for the ordinary brokerage
    commissions, charges, and fund investment expenses in their account. These are separate from our
    management fee. Our custodians provide fee schedules such as their commission scale, and information
    on underlying fund investment expenses to client firms. Contact us for our firm's specific custodian
    commission schedules. Since custodians often impose account custody fees or various other charges, we
    have retained a $4.95 stock commission to avoid these higher costs on our clients. We believe this aligns
    our clients’ interests in portfolio management over passive custody fees, and we evaluate these costs on
    an ongoing basis.
    In addition, if your account holds investment vehicles such as mutual funds, ETFs and/or private
    investment funds, you will be subject to the internal management fees, and expenses, and any
    performance fees charged by these vehicles.

Item 7: Types of Clients: We presently provide advisory services to individuals, high net worth
    individuals, and their personal trusts, pension and profit-sharing plans, and corporations or other
    businesses. We require new clients to have a minimum of $1,000,000 to invest with us, though we
    retain the discretion to waive the minimum under appropriate circumstances.